CCI examines Eithad deal, Jet Air shares down
Jet Airways‘ shares closed the day at Rs 590.95, down 2.44 percent on reports that the Competition Commission of India (CCI) is likely to examine the recent deal it announced with Abu-Dhabi‘s Etihad.
Jet Airways’ shares closed the day at Rs 590.95, down 2.44 percent on reports that the Competition Commission of India (CCI) is likely to examine the recent deal it announced with Abu-Dhabi’s Etihad.
The CCI will scrutinize whether the deal in which Etihad picked up 24 percent stake for around Rs 2000 crore, will have adverse impact on other airlines.Rival carriers have even complained about Jet likely to get more flying rights on the lucrative Gulf and European networks. Simultaneously, there are also talks of Etihad getting deeper access on domestic network, thereby forcing airlines to slash fares in a high cost operating environment.Read This: How SpiceJet is likely to benefit from Jet-Etihad deal Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
